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Small and Growing Businesses

Now is the Time to Prepare for Potentially Higher Taxes on the Wealthy By Scott Montgomery

Posted May 19, 2021

On April 28, 2021, President Biden addressed the nation and outlined his plans for reforming the U.S. tax code to help pay for a proposed $2.3 trillion American Jobs Plan and a more recently unveiled $1.8 trillion American Families Plan. Whether the provisions included in the president’s plans will ultimately pass into law remains to […]

How Can Swap Powers Preserve Wealth for Future Generations? By Eric P. Zeitlin

Posted January 6, 2021

Swap powers within intentionally defective grantor trusts (IDGTs) are critical estate planning tools that may help you improve tax efficiency today while allowing you to preserve wealth for generations to come. An IDGT is an irrevocable trust that you, the grantor, can create during life to pass assets and wealth to your named beneficiaries outside […]

A Fair Inheritance is in the Eye of the Beholder By Lee F. Hediger

Posted December 16, 2020

Leaving behind a lasting legacy and providing for surviving family members in the event of an individual’s death or disability takes time, patience and consideration of a broad range of non- financial issues. While there are times when an unequal division of property among heirs is preferable, consideration should be given not only to how […]

IRS Sets Retirement Plan Contribution, Eligibility Limits for 2021 By Sean Deviney, CFP®

Posted December 2, 2020

The IRS has released its cost-of-living adjustments to the limits on retirement plan  contributions for 2021, and the reviews are mixed. While more individuals qualify to make tax deductible contributions to IRAs in 2021, the dollar limit on those and other qualified retirement account contributions remain unchanged from 2020. Employer-Sponsored Retirement Plans  Workers who participate […]

401(k) Plan Sponsors Must Be Careful of Unintended Partial Plan Terminations By Olga Ismail

Posted November 11, 2020

Employee terminations and extended furloughs spurred by the COVID-19 health crisis are setting off a tsunami of partial 401(k) plan terminations that employers must be prepared to address, both administratively and financially. Failure to do so may jeopardize a plan’s tax- exempt status and expose the plan sponsors to substantial tax penalties and legal claims. […]

Disaster-Relief Loans Available to Small Businesses Impacted by COVID-19 by Todd A. Moll, CFP®, CFA

Posted March 19, 2020

Federal and state governments have announced relief programs to help the nation’s 30 million small businesses suffering financial hardships in the wake of the novel coronavirus (COVID-19) pandemic. Federal Aid The Economic Injury Disaster Loan program, managed by the Small Business Administration (SBA) in tandem with U.S. state and local government, will offer up to […]

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